Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue decreased from both the prior quarter and the same quarter last year, while operating cash flow improved significantly versus both periods. Free cash flow and free cash flow margin rose compared to the prior quarter and the year-ago quarter, with the margin reaching a higher level than in either comparison period.
- Operating cash flow rose to a higher level relative to revenue, while capital expenditure increased moderately from the prior quarter but remained below the year-ago figure. The resulting free cash flow and free cash flow margin were higher than both comparison periods, indicating improved cash conversion efficiency.
- Revenue was lower than the immediately preceding quarter and higher than the same quarter one year earlier. Operating cash flow, free cash flow, and free cash flow margin were higher than both the prior quarter and the year-ago quarter. Capital expenditure was higher than the prior quarter and also higher than the year-ago quarter.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$654.2M
Trailing twelve-month free cash flow.
Quarter free cash flow
$131.4M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$152.7M
Cash generated by operations before capital spending.
CapEx
$21.2M
Capital spending and related asset purchases.
FCF margin
21.2%
The share of revenue converted into free cash flow.
Cash flow trend
A short quarterly history shows whether FCF is scaling with revenue or only spiking for one period.
| Period | Revenue | Operating CF | CapEx | FCF | FCF margin |
|---|---|---|---|---|---|
| 2025-03-31 | $585.1M | $107.8M | $11.7M | $96.1M | 16.4% |
| 2025-06-30 | $615.4M | $327.1M | $12.2M | $314.9M | 51.2% |
| 2025-09-30 | $644.7M | $120.6M | $8.9M | $111.7M | 17.3% |
| 2025-12-31 | $619.3M | $152.7M | $21.2M | $131.4M | 21.2% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 105.4% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 3.4% | Lower capital intensity usually supports FCF margin. |
| Net cash | n/a | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Stronger Operating Cash Flow
Operating cash flow increased substantially compared to both the prior quarter and the year-ago quarter, outpacing the change in revenue. This was the strongest observable driver of free cash flow improvement.
Higher operating cash flow directly lifted free cash flow and margin, outweighing the modest increase in capital expenditure.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Operating cash flow rose to a higher level relative to revenue, while capital expenditure increased moderately from the prior quarter but remained below the year-ago figure. The resulting free cash flow and free cash flow margin were higher than both comparison periods, indicating improved cash conversion efficiency.
Revenue was lower than the immediately preceding quarter and higher than the same quarter one year earlier. Operating cash flow, free cash flow, and free cash flow margin were higher than both the prior quarter and the year-ago quarter. Capital expenditure was higher than the prior quarter and also higher than the year-ago quarter.
Monitor the cash and cash equivalents balance, which decreased from the start of the fiscal year per the filing context.